Direct tax collections surge 18% up to October 9

According to official data, gross direct tax receipts in India reached Rs 11.1 lakh crore as of October 9, 2023, marking an 18% increase from the same period last year. Net direct tax collection, after refunds, stood at Rs 9.6 lakh crore, a 21.8% rise. This collection accounts for 52.5% of the total budget estimates for direct taxes in the current fiscal year.